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Nov. 27-Dec. 3
Zero Emissions Will Cost
The consulting firm McKinsey has just released an analysis of what it will cost to achieve zero emissions globally by 2050. The company’s report dismisses many current estimates as too low and places a price tag of capital spending on physical assets for energy and land-use systems in the net-zero transition at $275 trillion dollars, or an eye-opening $9.2 trillion per year out to 2050. When subtracting the current capital spending levels on low and high “emissions assets,” the analysis concludes that spending needs to increase by $3.5 trillion a year for 30 years.
That’s the good news, since the report goes on to note that “economic shifts could be substantially higher under a disorderly transition.” It goes on to call for government and business “to act together with singular unity, resolve, and ingenuity.”
While the report is positive on the “positive return profiles” of the climate-change-driven transition investments, it candidly states that “financing has yet to be established.” As for risks, the report states that “as high-emissions assets are ramped down and low-emissions assets are ramped up in the transition, risks include rising energy prices, energy supply volatility, and asset impairment.”
This was analysis that sees the transition as “rich in opportunity.” The conclusion readers might very well arrive at is the need to “buckle up” since this is going to be some ride and it may not benefit from all that “singular unity.”
Walking Away From College
The National Student Clearing House Research Center issued its latest statistics on the six-year graduation rate of students who went on to higher education after high school with the expectation of receiving a degree. The report shows that the success rate for those going to college seeking a degree is embarrassingly low given the priority given to a college education in our national rhetoric. Only 62% of those seeking a four-year degree get one within six years of enrolling, which means that 38% of students fail to earn a degree within six years.
No credential, however, does not mean no student loans. Many students who fail to earn the degree they initially sought did manage to run-up significant loan balances in the process.
Now additional research suggests the picture is even more disturbing. That research suggests that these statistics are not just about students who may be taking longer to finish, but rather that students have walked away from college altogether. This new report shows that over 700,000 students out of a total enrollment of about 2.4 million stopped out, meaning they are not enrolled anywhere.
One concern is that growing public skepticism of higher education could be impacting persistence rates. This comes as other sources report new projections that employer demand for applicants with degrees is growing.
Get Tough on Crime
Gallup polling reports that Americans are increasingly critical of the U.S. criminal justice system, arguing that it is no longer tough enough on crime. The polling shows a major increase since 2020 in the number of Americans (now 58%) who say that the system is not tough enough.
Gallup’s annual survey on crime allows for a longitudinal view of how Americans respond to the criminal justice system. For years Republican and Republican-leaning independents have continuously called for the criminal justice system to be tougher on crime. This has been especially true as states have moved to reform bail systems and programs that are alternatives to incarceration.
What some might find unusual in the present numbers is the number of Democrats and Democratic-leaning independents who are now calling for the system to be tougher on crime. While 75% of Republicans and Republican-leaners say that the system is not tough enough, Democrats and Democratic-leaners are now saying the system is not tough enough at a 45% rate.
At the same time, the polling shows that Americans are less likely to think the criminal justice system is fair to suspects than it has been in the last 20 years.
When asked to compare the need to strengthen law and order and the need to reduce bias against minorities, the polls show a shift toward strengthening law and order.
The bottom line in the Gallup report is that, “Most U.S. adults think the criminal justice system should focus on strengthening law enforcement rather than reducing bias against minorities, but they believe targeting social and economic problems is key to lowering the crime rate.”
Happenings
Stone Harbor’s revenue from parking fines rose 257% to $110,000 so far in 2023 following a controversial introduction of a smartphone payment app, which replaced the town’s meters.
Cape May City cut the ribbon on its new firehouse, satisfying a campaign promise made by Mayor Zack Mullock in 2020. The next priority is a new police station.
The Atlantic City Electric strike continues but may be resolved by a vote of union members on a tentative contract. The vote is scheduled for Tuesday, Dec. 5.
Lower Township is proposing to cover the costs of improvements to privately owned beaches along the Delaware Bay in exchange for public access.
Habitat for Humanity has a new house ready for occupancy but has yet to find a qualified family to occupy it. Issues of income levels, debt ratios and credit history have made the task of finding the right family difficult.
Atlantic Cape Community College and Thomas Jefferson University have signed a letter of agreement for easy transition of qualified Atlantic Cape students into Jefferson health programs.
The state Supreme Court is questioning aspects of the charges against a man who was arrested on a decades-old rape and homicide case.
A cyclist hit by a vehicle in North Cape May was airlifted to AtlantiCare Regional Medical Center in Atlantic City. The cyclist says he does not remember the accident. The driver of the vehicle reported the cyclist coming into her lane.
Wildwood Crest has introduced a new bulkhead ordinance, which drew questions from a Herald reader. The ordinance would move the required height of bulkheads from the current 6.7 feet to 8 feet.
Avalon’s Hodge Podge is the latest Ocean Drive business to be demolished to make way for more housing. Real estate values are making it more difficult for Avalon to hold onto small businesses.
The county commissioners approved two new law enforcement unit contracts for the Prosecutor’s Office and the Correctional Center.
A couple have found owning a vineyard in Upper Township comes with its problems. Battling neighbors of their 5-acre vineyard, the owners have agreed to have no tastings on the property and to sell their wine in Somers Point.
Spout Off of the Week
Sea Isle City – Got off the Parkway at Avalon the other night and when I got to Avalon I almost fell out of my car. The decorations and lights were amazing. I then made a left onto the main drag with the stores and it seemed like every tree had white lights on it. It felt like such a magical place. Like it felt at Christmastime when we were kids. It was absolutely beautiful. I brought the grandkids back and they walked around on the grassy medians, eyes shining and non-stop smiling. Everyone should do a drive through of the town. Thank You Avalon for making Christmas brighter.
Read more spouts at spoutoff.capemaycountyherald.com.
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